By Edeniyere Abraham Osose
The Edo State Government has secured a 10 per cent equity stake in the proposed 100-megawatt power plant, marking a significant milestone in the state’s drive to transform its electricity sector. The achievement reflects the vision of the Okpebholo-led administration, with the Ministry of Power spearheading policies and reforms that are attracting strategic investment while ensuring long-term economic benefits for Edo State.
This was disclosed by Governor Monday Okpebholo while receiving the Managing Director/Chief Executive Officer of First Bank of Nigeria Limited, Mr Olusegun Alebiosu, and the Managing Director/Chief Executive Officer of CCETC, Mr Di Xiaohui, along with their respective delegations, at the Government House in Benin City.
The governor said the decision to negotiate an equity stake was informed by his administration’s resolve to ensure that Edo State derives long-term economic benefits from the project, beyond merely providing land for its development.
“I told them that we cannot just give them our land; we have to be part owners as well. They agreed to a 10 per cent equity stake, and that is the agreement we are going to sign today,” Okpebholo said.
He described the arrangement as a major milestone in the state’s drive towards energy security and economic development, noting that the project would deliver benefits on multiple fronts.
“I am happy with this development. First, we will now have electricity. Secondly, Edo State will have a stake in the project. Beyond ownership, the state will earn revenue from the investment, while our youths will benefit from the employment opportunities that the project will create. To me, this is a win-win situation,” he added.
This milestone aligns with the administration’s broader agenda of building a resilient and investor-friendly power sector capable of supporting industrialisation, improving access to electricity, and driving sustainable economic growth. Through the Ministry of Power, the government has continued to implement reforms aimed at enhancing investor confidence and promoting long-term development across the state.
Speaking on the ministry’s policy direction, the Honourable Commissioner for Power, Hon. Paul E. Usenbo, reaffirmed the government’s commitment to expanding electricity infrastructure, strengthening regulatory frameworks, encouraging private sector participation, and delivering reliable electricity to homes, businesses and industries.
A key component of these reforms is the Edo Mass Metering Programme (EMMP), introduced to eliminate estimated billing, improve transparency, and ensure that consumers are billed accurately for the electricity they consume. This has birthed the establishment of the Edo State Metering Assembly which would be up and running by the last quarter of 2026.Alongside this initiative, the ministry is advancing rural electrification projects, promoting renewable and clean energy solutions, and fostering partnerships with investors and development partners to accelerate the expansion of power infrastructure.
The impact of these initiatives is already becoming evident, with the proposed 100MW power plant, expected to commence operations in November, emerging as one of the first major investments facilitated under the administration’s reform agenda. The project is expected to improve electricity supply, stimulate economic activity, and create new employment opportunities for the people of Edo State.
Looking ahead, the governor also unveiled plans to decentralise power generation across the state through the establishment of additional power plants in Edo Central and Edo North Senatorial Districts, a move aimed at extending reliable electricity to more communities and attracting further investment to the state.
The Edo State Government remains committed to leveraging the Ministry of Power as the vehicle for implementing forward-looking policies that attract investment, modernise electricity infrastructure, expand access to reliable power, and deliver sustainable socio-economic development for the people of Edo State.
